Los Altos, California, United States - 05/31/2007 Rambus Inc. (Nasdaq: RMBS) today announced that the Nasdaq Listing and Hearing Review Council has granted the Company an exception, under Rule 4802(b), to demonstrate compliance with the Nasdaq Stock Market continued listing requirements, including the requirement that Rambus provide Nasdaq with reports filed with the SEC within the time periods required by SEC rules, until July 18, 2007.
As previously announced, the Audit Committee of the Board of Directors is conducting an independent review of the Company’s historical stock option granting practices and related accounting matters. Rambus intends to file its delinquent quarterly and annual reports as soon as practicable following the conclusion of the review and the completion of its restatement.
As previously disclosed, on February 6, 2007, the Nasdaq Listing and Hearing Review Council determined it would call the Company’s matter for review. In connection with the call for review, the Listing Council had requested that the Company provide an update by March 30, 2007 on its efforts to file the delayed Forms 10-Q for the quarters ended June 30, 2006 and September 30, 2006 and related matters, which Rambus responded to in due course. The Listing Council has determined to exercise its discretionary authority to grant the Company an exception to become compliant with Nasdaq filing requirements by July 18, 2007. If Rambus fails to comply with such requirements by this date, its common stock will be suspended from trading on the Nasdaq Global Select Market effective July 20, 2007.
Rambus will continue to work with Nasdaq in order to seek any available reviews and/or stays of delisting that may be necessary, but there can be no assurance that any additional relief will be available or granted.
About Rambus Inc.
Rambus is one of the world's premier technology licensing companies specializing in the invention and design of high-speed chip architectures. Since its founding in 1990, the Company's patented innovations, breakthrough technologies and renowned integration expertise have helped industry-leading chip and system companies bring superior products to market. Rambus' technology and products solve customers' most complex chip and system-level interface challenges enabling unprecedented performance in computing, communications and consumer electronics applications. Rambus licenses both its world-class patent portfolio as well as its family of leadership and industry-standard interface products. Headquartered in Los Altos, California, Rambus has regional offices in North Carolina, India, Germany, Japan, Korea and Taiwan. Additional information is available at www.rambus.com.